Saharanpur, September 1: A major counterfeit currency case has come to light in Uttar Pradesh’s Saharanpur, where fake notes worth nearly ₹17 crore have reportedly been detected at a Punjab National Bank (PNB) currency chest.

The irregularity came to light after a cash shortage was detected while currency sent from the bank to the Reserve Bank of India (RBI) was being counted. Around ₹11.50 crore had been sent to the RBI’s Jaipur office, where a shortage of approximately ₹4.30 lakh was noticed.

Following the discrepancy, senior bank officials reached the currency chest and began a detailed verification of the cash and records.

During the initial checking, counterfeit currency worth around ₹7.40 crore was reportedly detected. As the verification continued, the estimated value of the fake notes rose to nearly ₹17 crore. The final figure, however, is yet to be confirmed as the audit is still underway.

Three Bank Officials Suspended

Three PNB officials have reportedly been suspended in connection with the case, and a complaint has also been filed against them.

A part-time employee associated with the currency chest has also been booked on allegations of theft and removed from duty.

Investigators are now trying to answer a crucial question: How did such a huge quantity of counterfeit currency enter a secured bank currency chest?

One of the possibilities being examined is whether genuine currency was removed and replaced with counterfeit notes.

A detailed audit of the currency chest is currently underway. The exact amount of fake currency involved and the identities of those responsible are expected to become clearer as the investigation progresses.